ibt-mailJul 18, 2024, 10:03 AM

Biden Tests Positive For COVID As Calls To Drop Out Grow

Newsletter Jul 18, 2024 Quick Six Biden tests positive for COVID as calls to bow out increase President Joe Biden faced fresh turmoil Wednesday, testing positive for COVID-19 as a top Democrat urged

Newsletter Jul 18, 2024

Quick Six

Biden tests positive for COVID as calls to bow out increase
President Joe Biden faced fresh turmoil Wednesday, testing positive for COVID-19 as a top Democrat urged him to abandon his reelection bid. California Rep. Adam Schiff urged Biden to "pass the torch", becoming one of the highest profile Dems to do so and the first since the assassination attempt against Donald Trump. Schiff is the latest supporter to tell the 81-year-old Biden it's time to step aside. Biden returned to Delaware to recover after experiencing symptoms on the campaign trail in Las Vegas.
DEMOCRATIC CALLS FOR BIDEN TO STEP DOWN GROWING

US rolls out semiconductor partnership with the Americas
Secretary of State Antony Blinken unveiled Wednesday a new plan for the Americas to boost production of semiconductors, which are critical just about everywhere in modern industry and a sector dominated by China. Opening a meeting with counterparts from 11 Latin America nations, Blinken said the Americas should play a bigger role in the global supply chain for semiconductors, which run everything from cell phones to refrigerators to weapons.
HOW TRUMP'S COMMENTS RATTLED MICROCHIP MARKET

Slight drop in mortgage rates fuel demand for refinancing
Mortgage rates dropped to their lowest since May, creating a significant increase in the demand for refinancing. The Mortgage Bankers Association (MBA) compared the demand for refinancing between the previous week and last week, showing an increase of 15%. A dip from 7% to 6.87% was seen in the interest rate on 30-year fixed-rate mortgages with loan balances of $766,550 or less.
FALLING RATES COULD DROP PRICES, BOOST INVENTORY

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Vance shows RNC why he's Trump VP pick

Senator J.D. Vance debuted on the national stage Wednesday in his first address as the Republican vice-presidential nominee -- completing a meteoric rise from humble midwestern beginnings to a coveted spot on Donald Trump's ticket. Trump picked the junior senator from Ohio to be his No. 2 at the Republican National Convention in Milwaukee on Monday, and he did not disappoint his new boss with a fiery speech before GOP delegates. The one-term senator, who turns 40 next month, would be the third-youngest vice president in American history.

THE IDEOLOGICAL DIFFERENCES BETWEEN TRUMP AND VANCE

Supreme Court could face major reforms

President Joe Biden is set to endorse major Supreme Court reforms next week, like term limits for justices and establishing a mandatory ethics code. Once reluctant to endorse structural changes to the Supreme Court, such as implementing term limits or increasing the number of justices, Biden is also calling for a constitutional amendment aimed at removing the extensive immunity currently granted to presidents, following growing concerns over executive accountability.

SEE THE DRASTIC REFORMS FACING THE SUPREME COURT

Dinosaur skeleton fetches auction record

The largest stegosaurus skeleton ever found, nicknamed Apex, sold for a record-breaking $44.6 million at auction in New York on Wednesday, Sotheby's said. Estimated to be 150 million years old, Apex is said to be "among the most complete skeletons ever found," according to the auction house. It measures 11 feet (3.3 meters) tall and 27 feet long. The previous auction record of $31.8 million for a dinosaur skeleton was set in 2020 for a Tyrannosaurus Rex nicknamed "Stan."

SEE WHY APEX SOLD FOR 10 TIMES THE PROJECTED PRICE

Extra point

Who developed the first semiconductor device, and when? Who invented the semiconductor chip, and how long after the initial find?

Wednesday's answer: Although the identity of Satoshi Nakamoto has not been confirmed, bitcoin's inventor owns 1.1 million BTC ($64 billion).

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